JAKARTA (JP): Share prices on the Jakarta Stock Exchange (JSX)

JAKARTA (JP): Share prices on the Jakarta Stock Exchange (JSX)
rallied yesterday following widely published reports on the
bright outlook of the local market.

Most big stocks booked significant gains, pushing up the
Composite Index to close 6.5 points higher at 459.23 from 452 on
the previous day.

The narrower-based GTDBS-50 Index also increased to 110.2 from
108.45.

Securities dealers said that most local investors apparently
became more confident due to the promising statements about the
domestic market.

A senior investment advisor of the world's major bank was
widely reported yesterday by local newspapers as saying that
Indonesian stocks will still provide higher returns than bank
deposits even though there will be another rise in interest
rates.

He said the present sluggish market was temporary and he
estimated that the Composite Index would rise back to 500 points
by the end of this year, 550 points early next year and to 600
points in the first semester of 1995.

The active trading pushed up prices of large shares such as
Bank International Indonesia (+200), Barito Pacific (+150), Astra
International (-Rp 250), Gadjah Tunggal (+100), Gudang Garam
(+200) and H.M. Sampoerna (+100).

Top losers were Inter Pacific Bank (-300), Sumarecon Agung (-
200) and Bakrie Sumatra Plantation (-125).

Trading volume, however, dropped to 16.09 million shares worth
Rp 68.29 billion (US$32.5 million) yesterday from 24.55 million
shares worth Rp 87.33 billion on Monday. (hen)